Core Viewpoint - The China Securities Association has released a list of companies for on-site inspections, including Electric Power Construction New Energy and Yueya Semiconductor, as part of the IPO process, highlighting the regulatory focus on financial authenticity and the importance of on-site supervision in the IPO review process [1][2][3] Group 1: Electric Power Construction New Energy - Electric Power Construction New Energy aims to list on the Shanghai Stock Exchange, focusing on the development, investment, operation, and management of wind and solar power projects, with an IPO fundraising target of approximately 9 billion yuan [1] - As of March, the company's revenue composition shows wind power accounting for 70.37%, solar power for 28.38%, and other sources for 1.25%, indicating a significant reliance on wind energy [1] - The solar power segment has seen a notable increase in revenue share from 15.47% in 2022 to 28.38% in Q1 2025, although this growth is accompanied by a significant decline in gross margin from 51.03% at the end of 2024 to 30% in Q1 2023, attributed to seasonal sunlight shortages [1] Group 2: Yueya Semiconductor - Yueya Semiconductor plans to list on the ChiNext board, focusing on the R&D, production, and sales of advanced packaging materials and products, with an IPO fundraising target of approximately 1.224 billion yuan [1] - The company reported revenues of 1.667 billion yuan, 1.705 billion yuan, 1.796 billion yuan, and 811 million yuan for the years 2022 to 2025 H1, with net profits showing significant fluctuations [2] - Despite maintaining higher gross margins than industry peers, Yueya Semiconductor's gross margin has declined from 38.97% in 2022 to 24.42% in 2025 H1, primarily due to falling product prices, rising raw material costs, and increased depreciation from new production lines [2]
电建新能、越亚半导体IPO被抽中现场检查 后者净利润大幅波动
Sou Hu Cai Jing·2025-10-14 15:22